Uber Launches Peer-to-Peer Carsharing | Florida Insurance is Twice the Price
Florida car insurance is twice the price
Car insurance costs in Florida are nearly double the national average. Drivers in the state pay an average of $3,183 per year for full coverage, which is 37% higher than the national average. The high rates can be attributed to factors such as Florida being the third most dangerous state to drive in and insurance fraud being common. Other factors include the city you live in, increasing healthcare costs, and the impact of severe weather in the state. To lower insurance costs, individuals can improve their credit score, maintain a clean driving record, and bundle different types of insurance.
We spoke about other insurance factors in last week's Indicator.
ABC Action News
Car prices so hot that hot dipped steel prices drop
High vehicle costs and economic pressures are hindering car sales despite pent-up demand in the U.S. This is impacting the steel market, particularly the price of hot-dipped galvanized steel, which has dropped due to declining new car purchases. The interconnectedness of the automotive and steel industries is evident, with car sales directly influencing the steel market. The steel industry is hopeful for growth due to increased infrastructure expenditure and automotive development, but prices for hot-dipped galvanized steel have been trading flat and falling recently, partly due to the decrease in new car purchases.
Road accidents cost employers $60B per year
According to the Occupational Safety and Health Administration (OSHA), road accidents cost employers a staggering $60 billion annually in the United States. To ensure a safe working environment and minimize financial losses, employers should take steps to prevent accidents across their fleet. Some tips:
Prioritizing accident prevention not only safeguards employees but also helps avoid costly maintenance, repairs, and downtime that impact profitability.
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Carsharing: Turo IPOs while Uber launches in North America
Turo, the carsharing platform, has filed with the SEC, signalling its long-awaited initial public offering (IPO) is on the horizon. While no date has been specified, Turo plans to go public on the NYSE under the ticker "TURO." The company's financial health, as revealed in the filing, shows mixed results, with revenue increasing by 30% in Q1 2023 but operating losses also rising. Turo acknowledges that expansion is the current priority and expects operating expenses to increase substantially. As the world's largest carsharing marketplace, Turo faces competition from traditional rental companies and peer-to-peer platforms. Investors hope that the IPO will benefit from favorable market conditions and the growing carsharing industry.
Uber is expanding its services with the launch of Uber Carshare, a peer-to-peer carsharing service. Car owners will be able to rent out their vehicles to strangers when they're not using them, setting their own pricing and availability. The service, initially launched in Australia as Car Next Door, will debut in North America starting in Boston and Toronto. Uber aims to make carsharing simple, affordable, and sustainable, following the success of companies like Zipcar and Turo in the carsharing market. Uber also announced other features and services, including discounts for electric car rides and improved EV charging planning for drivers.
Webinar: how beverage distributors can save 100s of thousands
Cardata’s on-demand webinar goes under the hood of Vehicle Reimbursements and compares traditional programs, like car allowances and company cars, to modernized reimbursement programs. A customer case study shows how one company saved upwards of $400,000 by switching from a traditional allowance. Industry benchmarking also helps beverage distributors understand how some of their competitors are reimbursing. View the full webinar here:
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